GVC reports continued revenue growth

A trading update from e-gaming operator GVC for the October 1 to December 14, 2014 period reports the company’s sixth successive quarter of revenue growth.

GVC said it continues to benefit from the marketing and brand building the company undertook in preparation for, and during, the World Cup across all major territories and brands.

Net gaming revenue (NGR) to date for Q4/2014 to date has averaged GBP 660 000 per day, up 26 percent on the comparative quarter 2013.

Mobile Gross Gaming Revenues (GGR) rose 150 percent to GBP 168 000 per day, GVC said.

A 20 percent rise in deposit value growth for a sixth consecutive quarter.

Key performance figures included in the update were:

–    Sports wagers of GBP 4.48 million (Q4/2013: GBP 3.9 million)
–    Sports margins of 9 percent (Q4/2013: 8.4 percent)
–    Sports Net Gaming Revenue of GBP 318 000 (Q4/2013: GBP 244 000)

–    Gaming Net Gaming Revenue of GBP 342 000 (Q4/2013: GBP 279 000)

–    Total Net Gaming Revenue of GBP 660 000 (Q4/2013: GBP 523 000).

–    Mobile Gross Gaming Revenue of GBP 168 000 (Q4/2013: GBP 67 000)
–    Total value of deposits amounted to GBP 1.7 million (Q4/2013: GBP 1.4 million)

The GVC Board said it “…has been delighted by the performance of the Group during 2014 and believes this strength of trading provides an excellent foundation for continued growth in 2015”.

In addition the Board noted that Net Gaming Revenue from January 1 to December 14, 2014 had amounted to over GBP 217 million, already higher than full-year consensus figures, with another 17 days of the year left to run.

In related news, 888 Holdings delivered a brief trading update saying: “…the Group has continued to perform in line with management’s expectations. 888 remains confident of meeting management expectations for full year adjusted EBITDA”.

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